Analysts Issue Forecasts for WSFS Financial FY2024 Earnings

WSFS Financial Co. (NASDAQ:WSFS) – Equities research analysts at DA Davidson decreased their FY2024 earnings per share estimates for WSFS Financial in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings of $4.19 per share for the year, down from their prior estimate of $4.20. The consensus estimate for WSFS Financial’s current full-year earnings is $4.27 per share.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 EPS.

A number of other brokerages also recently issued reports on WSFS. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Trading Down 1.1 %

Shares of NASDAQ:WSFS opened at $52.61 on Friday. The business’s fifty day simple moving average is $55.52 and its 200-day simple moving average is $51.89. WSFS Financial has a 12-month low of $40.19 and a 12-month high of $62.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.10 billion, a PE ratio of 12.01 and a beta of 1.06.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s payout ratio is presently 13.70%.

Institutional Investors Weigh In On WSFS Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in WSFS Financial by 27.9% during the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after buying an additional 191,566 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after acquiring an additional 110,279 shares in the last quarter. State Street Corp boosted its stake in shares of WSFS Financial by 3.0% during the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock worth $154,519,000 after acquiring an additional 87,781 shares in the last quarter. Denali Advisors LLC acquired a new stake in shares of WSFS Financial during the 2nd quarter valued at about $3,436,000. Finally, Barclays PLC increased its stake in shares of WSFS Financial by 110.8% in the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank’s stock valued at $6,139,000 after purchasing an additional 63,284 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.